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15 disabled, compute the total income and tax liability for the assessment year 2017-18: (i) Income from House Property (Computed) 2,60,000 (ii) Income from Business
15 disabled, compute the total income and tax liability for the assessment year 2017-18: (i) Income from House Property (Computed) 2,60,000 (ii) Income from Business or Profession 2,25,000 (iii) Short-term Capital Gain 30,000 (iv) Long-term Capital Loss in respect of Assets 15,000 (v) Bank Interest on Fixed Deposit received 99,000 (vi) Interest on Post Office Saving Account 6,800 (Ans. : Total Income 5,50,000; Net Tax Liability + 19,900.) Note : Long-term capital loss can only be set-off against long-term capital gains. 10 MT XTM 9. From the following informations of income of Mrs. Sethi, who is 70 years old and is disabled, compute the total income and tax liability for the assessment year 2017-18: (1) Income from House Property (Computed) 2,60,000 (ii) Income from Business or Profession 2,25,000 (iii) Short-term Capital Gain 30,000 (iv) Long-term Capital Loss in respect of Assets 15,000 (v) Bank Interest on Fixed Deposit received 99,000 (vi) Interest on Post Office Saving Account 6,800 Ans. : Total Income 5,50,000; Net Tax Liability * 19,900.) Nota. Tom tomannitoll 15 disabled, compute the total income and tax liability for the assessment year 2017-18: (i) Income from House Property (Computed) 2,60,000 (ii) Income from Business or Profession 2,25,000 (iii) Short-term Capital Gain 30,000 (iv) Long-term Capital Loss in respect of Assets 15,000 (v) Bank Interest on Fixed Deposit received 99,000 (vi) Interest on Post Office Saving Account 6,800 (Ans. : Total Income 5,50,000; Net Tax Liability + 19,900.) Note : Long-term capital loss can only be set-off against long-term capital gains. 10 MT XTM 9. From the following informations of income of Mrs. Sethi, who is 70 years old and is disabled, compute the total income and tax liability for the assessment year 2017-18: (1) Income from House Property (Computed) 2,60,000 (ii) Income from Business or Profession 2,25,000 (iii) Short-term Capital Gain 30,000 (iv) Long-term Capital Loss in respect of Assets 15,000 (v) Bank Interest on Fixed Deposit received 99,000 (vi) Interest on Post Office Saving Account 6,800 Ans. : Total Income 5,50,000; Net Tax Liability * 19,900.) Nota. Tom tomannitoll
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